Jane Smith, 40, Architect

Situation: 

• Married, 3 young children as dependants
• Significant mortgage and debts
• Four outstanding insurance policies

Goal: Provide resources to pay off debts and send children to college should she die or become disabled.

Potential Solutions: Perform a review of all of Jane’s assets and liabilities to identify the amount of short fall, if any, between her resources and needs. 

Review the existing life and long-term disability insurance policies to include the financial strength of the insurance company, the efficiency and effectiveness of the policies, the current beneficiary elections and the features of the policies.  Identify any potential current health issues that would impinge of her ability to obtain life and/or long-term disability insurance currently.

Obtain proposals and quotes from various insurance companies and assist in the selection of a replacement policy, if appropriate.  Review and advise on available College Savings programs.

Implement and monitor Jane’s financial objectives and resources, and stay in constant communication to revise and update the plan as necessary.